CytoSorbents (NASDAQ: CTSO) said it has won another round of funding from the U.S. government to commercialize its HemoDefend red blood cell (RBC) transfusion filter.
The critical-care immunotherapy company, based in Monmouth Junction, N.J., specializes in blood purification. The National Heart, Lung, and Blood Institute (NHLBI), a division of the National Institutes of Health, granted the three-year, Phase IIB Bridge Small Business Innovation Research award of up to $3 million.
The HemoDefend-RBC filter is designed to improve the safety and quality of the blood supply by reducing non-infectious contaminants in packed red blood cells such as potassium, free hemoglobin, bioactive lipids, cytokines and antibodies. These contaminants can cause problematic and potentially life-threatening transfusion reactions. More than 100 million RBC units are transfused worldwide each year, and according to the American Red Cross, someone in the U.S. needs blood every 2 seconds.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
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